New South Wales Consolidated Regulations

PROPERTY AND STOCK AGENTS REGULATION 2022 - REG 19

19 Notification of auction conditions--the Act, s 77

(1) A stock and station agent or real estate agent who offers land or livestock for sale by auction must notify the conditions of the sale using a notice--

(a) written or printed in English, and

(b) that sets out the conditions of the sale clearly and legibly, and

(c) that is exhibited in a conspicuous position before and during the auction so as to be clearly visible to, and available for inspection by, a person attending the auction.

(2) Subsection (3) applies to an auction if--

(a) the auction--

(i) is for the sale of land or livestock comprising more than 1 lot and is conducted by a stock and station agent or real estate agent, or

(ii) is for the sale of livestock comprising more than 1 lot and is conducted by an assistant stock and station agent, and

(b) 1 or more of the conditions of sale for 1 or more of the lots are different from the conditions of sale for all or most of the other lots.

(3) The agent or assistant stock and station agent may notify the different conditions by reciting the conditions aloud clearly and precisely immediately before offering each relevant lot for sale at the auction.

: Maximum penalty--

(a) for a corporation--40 penalty units, or

(b) otherwise--20 penalty units.